H.4.1 Factors Affecting Reserve Balances of Depository Institutions

Form Fft~283 STATEMENT FOR THE PRESS Released for publication Board of Governors Saturday morning, Nov. 13; of the Federal Reserve System not earlier. November 12, 1937. CONDITION OF FEDERAL RESERVE BANKS During the week ended November 1Q member bank reserve balances decreased $10,000,000. Reductions in member bank reserves arose from an increase of $28,000,000 in Treasury deposits with Federal Reserve banks, offset in part by increases of $17,000,000 in Reserve bank credit and $3,000,000 in Treasury currency. Excess reserves of member banks on November 10 were estimated to be approximately $1,070,000,000, an increase of $20,000,000 for the week. Inactive gold included in the gold Irtock and Treasury cash amounted to $1,257,000,000 on November 10, a decrease of $15,000,000 for the week.. The principal change in holdings of bills and securities was an increase of $10,000,000 in United States Treasury bills. Changes in member bank reserve balances and related items during the week and the ye$r ended November 10, 1937, were as follows! Increase or decrease since Nov. 10 Nov. 3 Nov. 10 1937 1937 1936 (in mil lions of dollars) Bills discounted 21 -3 +1-4 Bills bought 3 — U. S. Government securities 2,537 +11 +107 Industrial advances (not including 14 million commitments - November 10) 19 -7 Other Reserve bank credit +9 -7 Total Reserve bank credit 2,576 +17 +106 Gold stock 12,789 -15 +1,684 Treasury currency 2,611 +3 +95 Member bank reserve balances 6,879 -10 +54 Money in circulation 6,564 -1 +171 Treasury cash 3,648 -l4 +1,282 Treasury deposits with F. R. banks 139 +28 +84 Nonmember deposits and other F. R. accounts 746 +1 +293 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Form FRr-283-a Released for publication Saturday morning, November 13,1937; not earlier. ASSETS AND LIABILITIES OF THE TWELVE FEDERAL RESERVE BANKS COMBINED (in thousands of dollars) Nov. 10,1937 Nov. 3, 1937 Nov. 10,1936 A S S E TS Gold certificates on hand and due from U. S. Treasury • . 9,12-4,891 9,124,896 8,726,337 Redemption fund - F. R. notes . . . . 9,381 9,381 11,853 Other cash . • . • . 306,008 308,145 243,801 Total reserves . 9,440,280 9,442,422 8,981,991 Bills discountedJ Secured by U.S.Gov't obligations,direct or fully guaranteed 11--44,,771111 16,950 44,,112288'' Other bills discounted 6,26 5 7,369 2,738 Total bills discounted 20,976 24,319 6,866 Bills bought in open market . . . . • 2,832 2,832 3,086 Industrial advances . 19,332 1199,,335522 26,281 U. S. Government securities t Bonds . . . . . 738,073 738,073 379,960 Treasury notes , # . . . . 1,158,463 1,158,463 1,443,363 Treasury bills . . . • . 640,054 629,654 606,904 Total U.S.Government securities . 2,536,590 2,526,190 2,430,227 Total bills and securities • . . 2,579,730 2,572,693 2,466,460 173 173 220 F. R. notes of other banks . . . . .. 25,427 27,262 23,289 638,847 581,920 573,938 Bank premises . . . . 45,365 45,36-4 48,067 All other assets 41,720 40,730 40,988 TOTAL ASSETS 12,771,542 12,710,564 12,134,953^ L I A B I L I T I ES F. R. notes in actual circulation . . . 4,277,419 -4,284,159 4,142,981 Deposits! Member bank - reserve account . . • . 66,,887799,,440033 66,,888888,,994433 66,,882244,,556655 U.S.Treasurer - General account . . . 139,237 110,826 54,589 Foreign bank 272,742 253,936 48,304 Other deposits . . . . 209,879 227,788 142,440 Total deposits . 7,501,261 7,481,493 7,070,398 Deferred availability items . 642,771 595,440 570,910 Capital paid in . 132,541 132,682 130,219 Surplus (Sectj.cn 7) . . . . . . . .. . 145,854 145,854 145,501 Surplus (Sc C'-vlcn 13 b) 27,615 27,615 27,088 Reserve for contingencies 35,742 35,742 34,291 All other liabilities . 8,339 7,579 13,565 TOTAL LIABILITIES 12,771,54-2 12,710,564 12,134,953 Ratio of total reserves to deposit and F. R. note liabilities combined # . . 8800..11%% 8800..33$$ 80.1 % Contingent liability on bills purchased for foreign correspondents . . . .. 2,586 2,219 — — Commitments to make industrial advances 13,522 14,403 22,436 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Form FR-283-b ASSETS AND LIABILITIES OF THE FEDERAL RESERVE BANKS ON NOVEMBER 10, 1937 (in thousands of dollars) A S S E TS Total Boston New York Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran, Gold certificates on hand and due from U. S. Treasury 9,124,891 466,496 3,557,116 503,303 685,951 324,060 230,005 1,731,060 276,434 194,965 278,285 178,725 698,491 Redemption fund - F.R. notes 9,381 1,028 1,183 908 566 624 1,319 629 895 495 l4l 293 1,300 Other cash 306,008 29,657 81,644 22,380 21,808 16,935 12,143 35,868 15,726 8,074 20,512 13,897 27,364 Total reserves 9,440,280 497,181 3,639,943 526,591 708,325 341,619 243,467 1,767,557 293,055 203,534 298,938 192,915 727,155 Bills discounted! Secured by U.S.Gov't obligations, direct or fully guaranteed 14,711 1,270 6,917 2,205 791 277 1,768 320 30 125 272 240 496 Other bills discounted 6,265 760 2,218 345 144 103 1,006 70 215 1,195 176 33 Total bills discounted 20,976 2,030 9,135 2,550 935 380 2,774 390 30 340 1,467 416 529 Bills bought in open market 2,832 206 1,009 293 269 110 99 353 78 54 80 80 201 Industrial advances 19,332 2,855 4,641 3,620 798 1,864 144 769 239 707 486 11,,110099 22,,110000 U. S. Government securities: Bonds 738,073 53,785 212,136 62,355 71,850 38,818 32,395 81,293 32,497 23,977 36,209 28,788 63,970 Treasury notes 1,158,463 84,420 332,964 97,873 112,773 60,927 50,847 127,596 51,009 37,635 56,831 45,183 100,405 Treasury bills 640,054 46,642 183,964 54,074 62,308 33,663 28,092 70,497 28,181 20,793 31,400 24,965 55,475 Total U.S.Gov't securities 2,536,590 184,847 729,064 214,302 246,931 133,408 111,334 279,386 111,687 82,405 124,440 98,936 219,850 Total bills and securities 2,579,730 189,938 743,849 220,765 248,933 135,762 114*351 280,898 112,034 83,506 126,473 100,541 222,680 Due from foreign banks 173 13 66 17 16 7 6 21 3 2 5 5 12 F. R. fiotes of other banks 25,427 557 7,168 914 1,265 2,276 2,509 3,418 2,278 933 1,502 660 1,947 Uncollected items 638,847 60,221 198,309 42,806 51,506 55,272 20,900 78,174 28,532 16,595 31,595 25,267 29,670 Bank piremises 45,365 3,010 9,987 4,847 6,24l 2,719 2,201 4,610 2,349 1,510 3,165 1,363 3,363 All other assets 41,720 2,485 12,530 4,893 4,462 2,610 1,572 3,809 1,553 1,455 1,787 1,476 '3,088 TOTAL ASSETS 12,771,542 753,405 4,611,852 800,833 1,020,748 540,265 385,006 2,138,487 439,804 307,535 463,465 322,227 987,915 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Form FK-28>-c ASSETS AMD LIABILITIES OF ^THE FEDERAL RESERVE BANKS Oil NOVEMBER 10, 1937 (in thousands of dollars) L I A B I L I TI Total Boston New York Phila. Cleve. Rich. Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. F.R.notes in actual circulation 4,277,419 283,816 948,4)8 318,84-9 435,816 215,220 165,813 984,144 181,420 138,721 167,031 90,108 348,073 Deposits t Member bank — reserve account 6,879,403 357,568 3,035,501 366,522 447,405 230,974 170,100 976,541 201,272 131,206 242,562 182,646 537,106 U.S.Treasurer - General account 139,237 4,330 64,485 3,929 15,914 8,159 3,302 20,168 3,069 3,119 4,314 1,378 7,070 Foreign bank 272,742 19,882 98,706 26,691 25,057 11,711 9,533 31,594 8,171 6,264 7,898 7,898 19,337 Other deposits 209,879 3,650 148,146 6,257 13,048 4,690 2,778 1,408 5,535 2,315 261 2,313 19,478 Total deposits 7,501,261 385,430 3,346,838 403,399 501,424 255,534 185,713 1,029,711 2L8,047 142,904 255,035 194,235 582,991 Deferred availability items 642,771 60,016 195,151 44,775 51,372 54,520 20,647 79,624 29,737 16,495 31,386 26,751 32,297 Capital paid in 132,541 9,383 51,077 12,259 12,947 4,878 4,391 12,908 3,844 2,891 4,069 3,878 10,016 Surplus (Section 7) 145,854 9,826 51,474 13,362 14,323 4,869 5,616 21,504 4,6 55 3,116 3,613 3,851 9,645 Surplus (Section 13 b) 27,615 2,374 7,744 4,325 1,007 3,422 754 l,4l6 545 1,003 1,142 1,262 2,121 Reserve for contingencies 35,742 1,570 9,117 3,000 3,121 1,497 1,690 7,721 1,174 2,027 941 1,847 2,037 All other liabilities 8,339 490 2,043 864 738 325 382 1,459 382 378 248 295 735 TOTAL LIABILITIES 12,771,542 753,405 4,611,852 800,833 1,020,748 540,265 385,006 2,133,487 439,804 307,535 463,465 322,227 987,915 Contingent liability on bills purchased for foreign correspondents 2,586 189 934 253 238 111 90 300 78 59 75 75 184 Commitments to make industrial advances 13,522 1,831 4,956 135 872 1,682 353 10 183 52 115 269 3,064 MATURITY DISTRIBUTION OF BILLS AND SECURITIES Within 16 to 31 to 61 to 91 days to 6 months 1 Year 2 Years Over Total 15 days 30 days 60 days 90 days 6 months to 1 Year to 2 Years to 5 Years 5 Years Bills discounted 20,976 18,533 704 426 347 927 39 Bills bought 2,832 232 485 1,919 196 Industrial advances 19,332 1,032 337 916 791 1,550 3,165 5,471 6,070 U. S, Government securities 2,536,590 31,370 28,285 57,016 141,932 353,098 395,436 209,798 632,415 687,240 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Form FRr28>d FEDERAL RESERVE HOTE STATEMENT ON NOVEMBER 10, 1937 (In thousands of dollars) Total Boston New York Phila. Cleve Rich, Atlanta Chicago St*Louis Minn. Kans.Cy. Dallas San Fran. # Federal Reserve notest Issued to F.R.bank by F.R.agent 4,609,218 331,955 1,059,439 331,626 461,394 227,721 183,588 1,008,982 195,243 144,834 177,320 98,095 389,021 Held by Federal Reserve bank 331,799 48,139 111,031 12,777 25,578 12,501 17,775 24,838 13,823 6,113 10,289 7,987 40,948 In actual circulation 4,277,419 283,816 948,408 318,849 435,816 215,220 165,813 984,144 181,420 138,721 167,031 90,108 348,073 Collateral held by agent as security for notes issued to bank* Gold certificates on hand and due from U. S. Treasury 4,643,132 341,000 1,060,000 337,000 464,000 230,000 168,000 1,020,000 196,632 148,000 180,000 99,500 399,000 Eligible paper 20,443 2,030 9,125 2,381 935 355 2,545 390 30 274 1,434 4l5 529 U. S„ Gov11 securities 20,000 20,000 } Tot?al collateral 4,683,575 343,030 1,069,125 339,381 464,935 230,355 190,545 1,020,390 196,662 148,274 181,434 99,915 399,529 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis